Cubits was a UK based bitcoin exchange and payment service that some casinos used in the early days of crypto deposits. It let people buy and sell bitcoin and gave merchants tools to accept it.
It no longer exists. Cubits went into administration in December 2018 after a loss of about EUR 29 million worth of bitcoin linked to what the company described as fraud, and users found their funds frozen.
Below are the casinos that were tagged with Cubits, followed by what it was, how it collapsed and what that history teaches about paying casinos with crypto today.
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Can you still use Cubits at online casinos?
No. Cubits, run by the UK company Dooga Ltd, entered administration in December 2018 and stopped operating. It had offered bitcoin buying, wallets and merchant payment tools that some casinos used. Any casino still showing a Cubits logo has an outdated payment page. Players who want to pay with crypto today use wallets and exchanges that are still operating.
Cubits launched in 2015, run by the UK company Dooga Ltd. It offered instant buying and selling of bitcoin with cards and European payment methods, web wallets, cold storage and tools for merchants who wanted to accept bitcoin.
It was founded in 2014 by a small team of entrepreneurs and positioned itself as a bridge between traditional payment methods and bitcoin, at a time when buying coins was still awkward for most people.
For casinos, that merchant side was the attraction. A site could take bitcoin through Cubits and have it converted, which made crypto deposits possible before most operators were set up to handle coins themselves.
In December 2018 Cubits announced that it had gone into administration. According to the company, in February that year bitcoins worth about EUR 29 million at the time had been delivered and withdrawn through three customer accounts, which it said appeared to involve collusion with fraudsters.
When the platform went offline, users could no longer withdraw. Administrators were appointed to try to recover assets, and the company also pointed to money it said was owed by a payment processor registered in Malta.
Anyone who had left a balance with Cubits found it locked inside an insolvency process rather than available to spend.
Casino payment pages and review sites, ours included, often keep icons long after the provider is gone. A Cubits logo on a cashier page tells you how long it is since anyone updated that page. If a casino still lists it, assume it does not work and ask support which crypto options are actually live.
Crypto deposits have moved on a long way since 2018. Many casinos now accept coins directly, so you send from your own wallet to an address shown in the cashier, without a third party payment service in between.
Some casinos still use crypto payment processors, which convert coins for the operator in the background. That is fine as long as the processor is a going concern and the casino pays out in a way you can actually use.
That removes one layer of risk but adds responsibility. Send the right coin on the right network, double check the address, and remember that a crypto payment cannot be reversed. Also check whether crypto play is allowed in your country, since several regulated markets do not permit it.
| Approach | Who holds your coins | Status |
|---|---|---|
| Cubits merchant service | The payment service | Closed since 2018 |
| Direct wallet deposit | You, until you send | Common at crypto casinos |
| Exchange account | The exchange | Depends on the exchange |
Recovery of funds from a failed platform runs through the administrators, not through casinos or third parties.
Look for communications from the appointed administrators and follow their process.
People offering to get your old Cubits balance back for an upfront fee are almost certainly trying to take more money from you.
Cubits belongs to the history of crypto gambling, not its present. If you want to pay a casino with crypto, use a wallet you control, pick a casino that is licensed and clear about its crypto rules, and never keep more on any platform than you need right now.
No. Cubits went into administration in December 2018 and stopped operating.
A UK based bitcoin exchange and payment service run by Dooga Ltd, with merchant tools that some casinos used.
The company said about EUR 29 million worth of bitcoin was withdrawn in a fraud in February 2018, and it entered administration that December.
Only through the administrators’ process. Ignore anyone offering recovery for a fee.
Their payment pages have not been updated since the service closed.
Usually by sending coins directly from their own wallet to an address in the casino cashier.
Every method we have tested at a licensed casino, with the deposit floor, the payout route and the cost written out for each one.
81 methods
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